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| Learn the advantages and disadvantages of forming a corporation, including the costs and benefits you can expect, as well as the differences between a C Corporation, an S Corporation, and a Limited Liability Company (LLC). |
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Why do successful businesses incorporate?
It's important to protect your personal assets by incorporating your small business. Your home, cars, savings and investments are all at risk and could be seized & sold to pay for law suits, debt or liability incurred by the business. In addition to protecting your assets, incorporation provides tax savings and deductions that could amount to thousands of dollars a year.
Once you´ve decided to incorporate your business, the next step is to decide which type of corporation to form, and in which state to incorporate. There are 3 types of for-profit corporations: C Corporation, S Corporation, and Limited Liability Company (LLC). You can incorporate in any state in the U.S., rather than just the state in which you live and work. There might be good reason for this, as another state might offer better tax benefits or more flexible incorporation laws. If you do incorporate in another state, you´ll have to register as a foreign corporation in your home state. |
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| DISCLAIMER: Information contained on or made available through this Site is not intended to and does not constitute legal advice, recommendations, mediation or counseling under any circumstance and no attorney-client relationship is formed. We do not warrant or guarantee the accurateness, completeness, adequacy or currency of the information contained in or linked to the Site. Your use of information on the Site or materials linked to the Site is entirely at your own risk. We are not a law firm and the Site is not a lawyer referral service. |
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